Lear Corp reports results for the quarter ended in September 30 - Earnings Summary

Lear

24/10/2024 17:03

* Lear Corp  LEA.N  reported quarterly adjusted earnings of
$2.89​​ per share for the quarter ended September 30, higher
than the same quarter last year, when the company reported EPS
of $2.87.  The mean expectation of sixteen analysts for the
quarter was for earnings of $2.63 per share. Wall Street
expected results to range from $2.24  to $3.46 per share.
    * Revenue fell 3.4% to $5.58 billion from a year ago;
analysts
expected $5.57 billion. 
    * Lear Corp's reported EPS for the quarter was $2.41​.
    * The company reported quarterly net income of $135.8
million.
    * Lear Corp shares had fallen by 3.8% this quarter and
lost 25.7%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 16.4%
in the last three months.​ 
    * In the last 30 days, seven analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 7
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the auto, truck &
motorcycle parts peer group is also "buy"

Wall Street's median 12-month price target for Lear Corp is
$140.00 
This summary was machine generated from LSEG data October 24 at
04:03 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      2.63           2.89           Beat
 Jun. 30 2024      3.40           3.60           Beat
 Mar. 31 2024      3.02           3.18           Beat
 Dec. 31 2023      3.12           3.03           Missed